Cazoo announces that Alex Gersh, formerly Chief Financial Officer of Paddy Power Betfair Plc, has joined as its first CFO.
Having raised over £30 million late last year, Cazoo is seeking to transform the used car market in the UK and plans to launch by the end of this year. It aims to make buying a used car no different than buying any other product online today by letting consumers select from thousands of cars, have them delivered to their door and offering a risk-free returns policy.
Alex joins Cazoo after spending 6 years as CFO of FTSE 100-listed Paddy Power Betfair Plc where he oversaw the merger of two of the fastest-growing online betting operators in the world and guided the business through its subsequent transformation resulting in annual revenues of over £1.5bn. Prior to this Alex was Chief Financial Officer of then NASDAQ-listed NDS Group and his earlier career was spent at as CFO of BT Cellnet and at Ernst & Young.
Alex will be responsible for building out the finance function at Cazoo and managing the growth of the business. He will join Cazoo’s board of directors and executive team and will report directly to Founder & CEO, Alex Chesterman OBE.
Alex Gersh commented, “After spending much of my career in later stage listed businesses, I am looking forward to being part of the journey of an early stage business with huge ambition. Alex Chesterman has a proven track record of building and growing incredibly successful consumer-facing businesses and I am excited to be part of this new venture. Cazoo is set to transform the biggest retail space and deliver a far better experience for UK used car buyers.”
Alex Chesterman, Founder & CEO, of Cazoo said, “We are delighted to welcome Alex Gersh to the Cazoo team. We have plans to transform the used car market in the UK and Alex’s considerable experience is a real win for Cazoo and will be invaluable to us. His experience of being involved in businesses of significant scale will be a great asset given our plans to grow Cazoo into a very large business over the coming years.”
Pictured: Alex Gersh, CFO Cazoo